Bulk US scrap prices fall in recent bookings by Bangladesh based steel mills

In line with SteelMint’s earlier report, two confirmed bulk US scrap deals were concluded by Bangladeshi steel mills. First mix cargo comprised of HMS and shredded being booked at $453 & $458/t CFR Chittagong respectively. The other cargo booked was for HMS at $455/t and shredded at $460/t CFR levels. Prices have come down significantly by $40/t w-o-w. On the other hand, most of the Japanese suppliers are not interested to sell big volumes on longer distances due to volatility in vessel freight rates and the current logistics situation, sources have confirmed to SteelMint.